TheTrendwatch #10bis (luxury)
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Digital Luxury
Digital and luxury share that value is immaterial: It's all about the level of perceived added value for the consumer.
Therefore, luxury business decision makers should be inclined to take the right decisions.
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Luxury Lover?
38 y.o.
52% male
(EMEA average)
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Digital life induces deep value changes...
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Some things remain stable.
Some others have changed.
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Stable brand perception.
Shift in consumer values.
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VALUES
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EmotionalSuccess Confidence Wealth Elitism Desirability Indulgence Pleasure Reward
RationalHeritage Expertise ReputationQuality Design MaterialsManufacturing Service
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Elitism: Rent vs. Own
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Desirability: Brand ethics
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Wealth: Massclusivity
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Reputation: Micro-specialized communities
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Indulgence/Reward: Challenged by impulsive purchase
Synchronized/Social shopping: 147% more time spent on the ecommerce website
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Expertise: Omniscient Consumer
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Service: Level of (free) excellence
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Same contact points.
Radical Media Evolutions.
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MEDIA
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Store and Newspaper remain premium touch points...
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Source: Microsoft Advertising - Luxury Lovers EMEA - Q3 2009
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Luxury online…
Media usage vs. Media spend
25% 10%
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Source: Luxury Shopping Experience Study - Google & Unity Marketing - Q3 2009
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Source: Luxury Shopping Experience Study - Google & Unity Marketing - Q3 2009
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"Blogs, group(s) or individual Web sites are no longer the signs of a new era, but are an established reality for a whole new generation.
As a large brand, we must be able to communicate to this new generation of adepts of the digital world."
Corinne Delattre, International Communications Director, Cartier
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Source: Microsoft Advertising - Luxury Lovers EMEA - Q3 2009
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Source: Microsoft Advertising - Luxury Lovers EMEA - Q3 2009
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The expectations about stores have changed.
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In France, any person over 13is exposed to 38,6 multimedia screen per day (+13,9% compared to 2005)
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Promotions have changed.
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Talking objects (RFID, QRcodes…)
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Magazines have changed.
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“Millions of people now own Kindles,” said Jeff Bezos, founder and CEO of Amazon.com. “And Kindle owners read, a lot: When we have both editions, we sell 6 Kindle books for every 10 physical books… This is year-to-date and includes only paid books.”
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USA42 hours/week entertainment (all screens)
42 hours/week working
42 hours/week sleeping
Sources: Council for Research Excellence and Nielsen, March 2009
EUROPE32 hours/week entertainment (all screens)
49 hours/week working
42 hours/week sleeping
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YouTube, 2nd search engine behind Google!
This past month, October, 2009, there were a total of more than 3.7 Billion search queries on YouTube as measured by comScore.
This represents and increase of more than 31 percent year over year (vs 2,580,000.000 queries in Oct. 2008) and an increase of 7% over just last month. Yahoo, although still the 3rd largest search engine, has now fallen more than 1 billion queries/mo behind YouTube.
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Assuming TV campaigns have 20% ROI,one spends 100
expecting an impact of 120
By reducing GRP costs per 2, one can spend 50
expecting the same impact
By leveraging digital targeting and behavioral capabilities,
impact can be increased by 20%
+25% impact by leveraging interaction & engagement
beyond the video ad
ROI = 20% ROI = 140% ROI = 188% ROI = 200%
Traditional TV @lternative TV@lternative TV+ Camp. Mgt
@lternative TV+ Camp. Mgt
+ Engagement
120
impact
100
spend 120
impact
50
spend
144
impact
50
spend
180
impact
60
spend
@lternative TV
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Desktop experiences have changed
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Mobile is the New Online: apps + 4G
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Offline media are connected
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Influent Bloggers are overrated
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Buzz Marketing disappeared with the rise of structured social networks
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Recession proof.
Huge Online Opportunities.
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BUSINESS
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Luxury sales:
5-15% online
95-85% offline
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In 2007,Tiffany's share of internet sales reached 10%
In 2008, Tiffany's $141 millionBluenile.com $295.3 millionJomashop.com $46 million
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Digital Roles...
ExclusivityIndulgence
Quality Status
Ownership
Awareness
Admiration
Exploration
Consideration
Purchase
Welcome
Reward
Converse
Direct
Delight
Personalize
Inspire AssistPersonalize
Convey
Vitalize
Replicate
Lead
Build
Entertain
Target Inform Stimulate
Luxury Brand
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Tell a story.
Do great things.
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STRATEGIES
Meaningful MarketingBe remarkable!In a world of too many options and too little time, our obvious choice is to ignore the ordinary.
UnlimitedChoice
Free time andlimited budget
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Meaningful MarketingA cow is a cow… You don’t notice it.
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Meaningful MarketingA pink cow is still a cow… But this simple attribute makes you want to speak about it.
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Meaningful Marketing
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Added value for the consumer
Perceived Brand Value
Declare
Do
If you act instead of communicate to express a message, you increase not only the perception of your brandbut also the added value you bring to your consumer!
You drive them to seek the next interaction.
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Paid/Earned media: Attention Marketing
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2007 Facebook users = population of Italy (50 million)
2008 Facebook users = population of Russia (140 million)
2009 Facebook users = population of USA (350 million)
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Social CRM: Influence Marketing
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Is the luxury watch audience on social media?
Hublot 68.1%Audemars Piguet 56.1%TAG Heuer 55.9%Omega 56.3%Jaeger-Lecoutre 46.6%Rolex 38.5%Breguet 38.5%Longines 39.6%
(% of the website visitors that have been on facebook within the last month)
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During the main engagement period, Traackr’s reports showed that mentions of the Honda Insightamong the Top Influencers increased by 300% and estimated coverage increased by 675%!
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New Circle of Influence: Exclusive Social Networks
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IN early November, Burberry deployed a new Web site, artofthetrench.com, that presents street-level views of men and women in their trench coats. Scott Schuman, creator of the popular Sartorialist blog, photographed
the first batch of images, and then people began submitting their own. “They’re still coming in,” said Sarah Manley, senior vice president for marketing and communications at Burberry. So far, there have been 3.7 million
picture views.
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Social Targeting Research at NYU:
Studies conducted by AT&T Research Labs/ NYU SternStudied effectiveness of telemarketing & direct mailCompared traditional targeting methods to ‘Network Neighbor’ effectConsumers in contact with current customer 3-5x more likely to respondIncreased reach to new customers not reached via traditional method
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Social TargetingIdentifying your customers/ambassadors based on behavior (buying/exposure)Finding out who is most closely connected to your customers (their social graph)Using this social graph to target ads to your customers’ closest friendsTheses friends become customers and the cycle continues...
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With our partner
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Social TargetingIdentifying your customers/ambassadors based on behavior (buying/exposure)Finding out who is most closely connected to your customers (their social graph)Using this social graph to target ads to your customers’ closest friendsTheses friends become customers and the cycle continues...
Ranking based on:Recency, frequency, and reciprocity.
With our partner
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Social TargetingIdentifying your customers/ambassadors based on behavior (buying/exposure)Finding out who is most closely connected to your customers (their social graph)Using this social graph to target ads to your customers’ closest friendsTheses friends become customers and the cycle continues...
With our partner
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Social TargetingIdentifying your customers/ambassadors based on behavior (buying/exposure)Finding out who is most closely connected to your customers (their social graph)Using this social graph to target ads to your customers’ closest friendsTheses friends become customers and the cycle continues...
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With our partner
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ID!
RSS!
Time !& Effort!
Additional Impact !& Reach!
Phase 1!Quickwin!
Phase 2!Core business!
Phase 3!Best Practices!
Email signatures!
Focus on you brand Digital ID
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Integrated Media Planing: Bowling vs. Pinball
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Next Steps?
Online is not magic/everythingSetup a premium digital ID for your brandYour target is online: Find out where, when, whyMonitor the existing conversation around your brandDefine your KPI's linked with business objectives (vs. online PR only)Move fast vs. move bigDon't follow best practices: Experiment!Reconsider old media planning habits (SEM, alternative TV, digital press, social media...)Go mobileDo vs. Tell (Focus on added value, choice, functionality, and convenience)
Make us dream!
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Thank You!
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